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| Technology
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| Satyam buyer may emerge by Feb end |
| Satyam buyer may emerge by Feb end
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| INDIA
, 18-February-2009
0:38:33 AM |
| A buyer for fraud-hit Satyam Computer Services may emerge by the end of February, a board member said, while the Government sought the removal of boards of two companies linked to Satyam's founder.
Satyam's government-appointed board will meet on Saturday to discuss client and staff issues, board member and veteran banker Deepak Parekh said in New Delhi.
Asked by reporters whether he saw any buyer coming forward for Satyam, he said: "Yes. By the end of this month."
Later, he said the board would meet with its investment bankers, Goldman Sachs and Avendus, on Friday and Saturday, to discuss options.
"The idea is to move fast," he told a TV channel.
Potential suitors to have declared an interest include engineering and construction firm Larsen & Toubro, Spice Group and Hinduja Group.
Satyam said last week it would accelerate plans to find a suitor after the market regulator amended takeover rules.
Chairman Kiran Karnik said last Friday he expected there would be many interested parties when the board announced its bidding process. Karnik has also said the sale process could get underway before Satyam's accounts were restated
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